Swedish furniture giant Ikea will open its first store in Russia by next March. Ikea is investing $40 million to build the two-story operation in Moscow, said Lennart Dahlgren, general director of Ikea's Russian office. Ikea will target all segments of the population. Mr. Dahlgren described the typical customer as "anybody who has his or her own flat in Moscow." Contrary to many local retailers, Ikea plans to show all prices in rubles and not dollars. No ad agency has been appointed yet.
Copyright September 1999, Crain Communications Inc.